现货黄金跌幅缩窄，调整或现“黄金坑”？黄金基金ETF（518800）持续吸金

Core Viewpoint - Gold prices experienced a significant drop, with London gold falling over 5% due to expectations of a ceasefire in the Russia-Ukraine conflict and easing trade tensions between China and the U.S. Additionally, the substantial increase in gold prices since September led to strong profit-taking among bullish investors [1]. Market Dynamics - On October 22, during early trading, spot gold prices fluctuated dramatically, dropping nearly 3% to $4003 per ounce before quickly rebounding above $4100 [1]. - The ongoing deterioration of the U.S. fiscal deficit and debt situation, coupled with rising global tensions and increasing distrust in the current financial system, has led central banks worldwide to continue accumulating gold [1]. Investment Trends - The recognition of gold as a safe-haven asset and a store of value is increasing among investors, reinforcing the narrative that gold is the ultimate safe asset, which may accelerate its price increase [1]. - Year-to-date, the gold ETF (518800) has seen significant inflows, with its shares growing over 160%, bringing its current scale to nearly 30 billion yuan [1]. - The gold ETF closely tracks gold price movements, with one unit corresponding to 1 gram of gold, serving as a holding certificate for physical gold, and offers good liquidity for interested investors [1].